Castillo Copper’s Managing Director, Dr Dennis Jensen, commented: “After a Herculean effort, CCZ’s geology team has modelled a maiden cobalt inferred mineral resource of 21 556 t at relatively shallow depths. More encouragingly, there is considerable potential to extend known mineralisation with targeted drilling campaigns. With strong global demand for cobalt clearly apparent, the Board intends to meet with prospective off-take partners eager to secure supply chains. In addition, CCZ plans to actively participate in the NSW government’s critical minerals initiative.”

Next steps

With a maiden cobalt MRE now defined, the Board has several concurrent priorities including:

  • Infill and extend the known cobalt MRE with a focused drilling campaign.
  • Opening discussions with prospective off-take partners.
  • Start to actively participate in the NSW government’s critical minerals strategy.